AUD/USD bears bets on prolongs dips to shrug-off Aussie Capex

Q4 CAPEX Private business capex spending reportedly edged higher to upbeat the forecasts in the quarter, up about 0.8%, to be 16.4% below the level of a year ago.

Mining capex retreated by almost 25% in 2015, following falls of 16% in 2014 and 7% in 2013.

Capex spend at $14.6bn at the end of 2015 is still well above the $3bn level prevailing in 2004. Service sector capex spending declined in 2015, down 7% on this measure, having rebounded by 17% in 2014.